Banks to report bumper profits as bad loans fall

Britain’s banking sector will attempt to dispel the clouds surrounding it and show that it isn’t only Royal Bank of Scotland that is benefiting from the economic recovery as the reporting season gets into full swing this week.

South Africa Metalworkers Reach Pay Accord to End Strike

South African metalworkers returned to work today after labor groups agreed to a three-year wage deal, ending a four-week walkout that threatened growth in the continent’s second-biggest economy.

U.S. services sector activity accelerates in July: Markit

(Reuters) - Activity in the U.S. services sector held at its highest level in 4-1/2 years in July, though readings for new business and employment growth weakened, a survey showed on Monday.

George Osborne is right not to be smug over GDP numbers

George Osborne's response to news that Britain has finally recovered all the ground lost in the recession of 2008 and 2009 was notably for its lack of crowing.

Britain's economy set, finally, to recover ground lost to crisis

(Reuters) - Britain's economy is set to pass a landmark on Friday when official data will probably show that it is bigger than it was before the financial crisis struck six years ago.

Ghana protests over high cost of living

Thousands of workers across Ghana have taken to the streets to protest about the rise in the cost of living.

UK retailers had strongest quarter in more than 10 years from April to June

Britain's retailers enjoyed the strongest quarter in more than a decade between April and June, but consumers were less willing to spend towards the end of the period, according to the Office for National Statistics.

BOJ Deputy Governor Nakaso says 'conquest of deflation' in sight

(Reuters) - Bank of Japan Deputy Governor Hiroshi Nakaso said the country was eyeing an end to deflation as rising wages and inflation expectations allow companies to increase prices of their goods, signalling confidence over a sustained economic recovery.

More than half of consumers globally upbeat on job prospects: Nielsen

(Reuters) - More than half of consumers globally expect job prospects to be good to excellent in the year ahead, a survey showed on Tuesday.

Carney's Canada Years Signal BOE Rates Caution

Mark Carney may have been recalling his time at the Canadian central bank when he cooled talk last month of an early Bank of England interest-rate increase.

G20 trade ministers reaffirm growth commitments

SYDNEY, July 19 – G20 trade ministers reaffirmed Saturday their commitment to free trade as a central driver of growth and to streamline the flow of goods through borders.

U.S. leading indicator points to stronger second-half growth

WASHINGTON (Reuters) - A gauge of future U.S. economic activity rose in June, supporting views of a stronger growth performance in the second half of the year.

UK mortgage lending figures at highest for eight months

The amount of money lent to borrowers to buy properties was at its highest for eight months in June, according to the mortgage lending figures from banks and building societies.

Murdoch tells G20 governments to take a back seat for growth

(Reuters) - Media mogul Rupert Murdoch on Thursday criticized excessive financial regulation as stymieing free markets and urged Group of 20 governments to "take a back seat" to allow businesses to drive economic growth.

U.S. retail sales, manufacturing data point at firming economy

(Reuters) - A gauge of U.S. consumer spending rose solidly in June, in the latest indication that the economy ended the second quarter on a stronger footing.

Young hit hardest by recession, says IFS

Young people were hit far harder by the recession than older generations, a report has found. People aged 22-30 saw their household incomes fall by 13% between 2007 and 2013, while those between 31 and 59 saw a 7% drop, according to the Institute of Fiscal Studies (IFS).

South Korea quietly intervenes on the won to bolster economy

(Reuters) - South Korea's foreign exchange authorities have been engaged in a quiet war in recent months to hold down the won, throwing more firepower at it than for years in a bid to support exports and help keep the economy on its fragile recovery track.

One in Three Economists See 2014 BOE Rate Increase

Expectations the Bank of England will begin increasing interest rates in 2014 surged over the past month after Governor Mark Carney cautioned that investors were underestimating the risk, according to a Bloomberg survey.

ECB's Coeure says bank's measures are not a 'panacea'

(Reuters) - Policy measures announced by the European Central Bank are not a "panacea" for the European economy, ECB Executive Board member Benoit Coeure told a Greek newspaper in an interview published on Saturday.

Portuguese bank fears hit stock markets

Stock markets on both sides of the Atlantic were rattled on Thursday on fears that the suspension of shares in Portugal's third largest bank could lead to a run on the eurozone's debt-ridden banking sector.

India budget: Arun Jaitley unveils reform plans

India's new government is lifting some caps on foreign investment, tightening borrowing limits and plans to introduce a goods and services tax as part of what it calls a "budget for growth".

Portugal Leads Drop in Euro-Area Bonds on Espirito Santo Concern

Portuguese government bonds led a decline in the region’s higher-yielding sovereign securities as shares in the nation’s financial institutions dropped after some companies missed payments on short-term debt.

Vatican bank clean-up wipes out profit for 2013

The Vatican bank has seen its 2013 profit almost wiped out largely due to a clean-up process which has seen it end relationships with 3,000 customers.

Angela Merkel Brings German Business Leaders to China

Beijing: German Chancellor Angela Merkel met the Chinese premier on Monday and hailed ties between the two sides as she led a large business delegation on a visit to promote trade with the Asian economic giant.

Switzerland gets the edge on EU with China trade deal

Basel (Switzerland) (AFP) - Switzerland has one-upped its European Union neighbours with a free trade deal with China that its politicians and business sector say is crucial to boosting ties with the world's second-largest economy.

EU Banks Must Shun Bitcoin Until Rules in Place, EBA Says

The European Commission signaled it will try to impose rules on virtual currencies such as Bitcoin after the bloc’s banking regulator ordered lenders to shun them.

South Korea to get clearing system for China's yuan

South Korea will get a yuan clearing system in the capital Seoul, expanding the list of states with direct access to trade in the Chinese currency.

Household debt serious threat to UK recovery, says Bank of England deputy

The Bank of England deputy governor, Sir Jon Cunliffe, has warned that household debt is a key risk to the UK recovery and said the Bank's new measures to rein in the housing market should be thought of as insurance against a major crash.

Premier Li says downward pressure still exists for Chinese economy

(Reuters) - China's Premier Li Keqiang said on Wednesday downward pressure still existed in its economy despite it operating within a reasonable range and some leading indicators demonstrating a positive trend.

Bank of England made rescue plan for banks at height of eurozone crisis

At the height of the eurozone crisis the Bank of England warned the Treasury that it needed a comprehensive contingency plan to prop up Britain's banks, documents published by the central bank have revealed.

Fed's Williams sees no rate hike until after mid-2015

(Reuters) - The Federal Reserve will probably need to keep interest rates near zero for at least another year, a top Fed official said on Monday, even as he expressed optimism the economy is well on its way to health.